SeaChange

SeaChange Fund is a Seattle-based venture capital firm established by former OfferUp CEO Mike Fridgen and CTO Chris Howard. Launched in 2023, the firm quickly made a name for itself by successfully closing its inaugural fund, SeaChange Fund I, at $50 million. This fundraise was notably swift, completed in under 60 days, reflecting the strong confidence of their limited partners in the founders' extensive operational and investment experience. The firm is dedicated to investing in early-stage technology companies, primarily at the Seed and Series A stages, leveraging the founders' deep expertise in scaling businesses.

SeaChange Fund's investment thesis centers on supporting innovative startups across a range of high-growth sectors. Their focus areas include Software, Artificial Intelligence/Machine Learning (AI/ML), Software-as-a-Service (SaaS), Fintech, Healthcare IT, and Climate Tech. The firm prides itself on its founder-friendly approach, emphasizing speed and efficiency in their investment process. Their operational backgrounds at companies like Amazon and OfferUp provide them with a unique perspective, enabling them to offer strategic guidance and hands-on support to portfolio companies beyond just capital.

For their initial investments, SeaChange Fund typically writes first checks ranging from $1 million to $3 million. They also maintain reserves for follow-on rounds, demonstrating a commitment to supporting their portfolio companies' growth through subsequent funding stages. From their $50 million Fund I, SeaChange aims to build a concentrated portfolio of approximately 15 to 20 companies, allowing them to provide meaningful engagement and support to each investment. Their strategic location in Seattle positions them well to tap into the vibrant Pacific Northwest tech ecosystem, while also looking for promising opportunities nationwide.